Eric Trump made statements on the ongoing discussions about TRUMP Coin launched by President Donald Trump. The fact that there was a whale investor who made a profit of almost 12 million dollars immediately after the launch of the token brought the issue to the agenda even more.
Eric Trump’s TRUMP Coin Comments
Eric Trump, President Trump’s son, described the meteoric rise of the TRUMP memecoin as “the hottest digital meme in the world.” The TRUMP token gained value within hours of its launch on Friday and became one of the most talked about topics in the cryptocurrency space. According to CoinGecko data, market capitalization exceeded $5 billion as of Saturday afternoon, while trading volume reached over $11 billion. The token price more than doubled, reaching over $27 within 24 hours of launch. Today, the price exceeded $60.
A large transaction that occurred a few hours after TRUMP Coin’s launch caught the attention of blockchain analysts. A whale investor, who spent approximately $12 million and bought 860,895 tokens, sold these assets for $27.67 and made a profit of $11.8 million. This development revealed the high volatility of the token in the early trading hours.
This has raised concerns about memecoin’s stability and the possibility of market manipulation. Critics have argued that speculative trading can be damaging to small investors entering the market through inflated prices.
Anthony Scaramucci described the launch as “corruption at a bad level” and said it left a negative impression on the overall cryptocurrency industry.
Concerns Over Financial Links
The timing of the TRUMP memecoin’s launch raised ethical questions as it occurred just days before Donald Trump was sworn in as president. Historically, presidential candidates have been known to try to avoid potential conflicts of interest by distancing themselves from business activities. The Trump administration’s direct ties to cryptocurrency have been closely scrutinized by ethical watchdogs.
“This is the president launching projects with promises to impose regulations that relax industries he promises to profit from,” commented Jordan Libowitz of Citizens for Responsibility and Ethics in Washington. Trump also faced criticism for promoting cryptocurrency-friendly policies during his campaign; These include reviewing crypto regulations and the federal government’s Bitcoin mandate. 
$104,967.3 Includes stocking.
The rapid rise of the memecoin named TRUMP and the profit events are seen as a harbinger of new dynamics and ethical debates in the crypto market. Investors and observers continue to monitor how this will impact future market movements and regulatory approaches.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
